Alberta’s sluggish growth projection a concern

February 27, 2019

CALGARY – Reluctance by the Government of Alberta to adopt business forward strategies continues to put the province’s economic recovery in jeopardy, says the President and CEO of the Calgary Chamber of Commerce.

Sandip Lalli says the business community remains doubtful the government will achieve its 2023 back to balance date stated in today’s fiscal update without policies that will spur the entire economy, adding it is disappointing to see projections that Alberta will lag the rest of Canada in GDP growth and that somehow the solution will come by maintaining the status quo.

“We need to see a commitment to actions that pull the economy forward,” said Lalli. “We are concerned that the government continues to over rely on increasing royalty revenue.”

While Lalli is encouraged that the province has committed to keeping spending within inflation and population growth, she outlined the questions the business community has for the province in advance of the 2019 Provincial Budget.

Will the province:

do what the business community is recommending and cut the corporate tax rate to generate revenue from a broader tax base?

undertake layered cost assessments of the growing tax and regulatory burdens that are hampering business growth?

look to examples set in other jurisdictions to bring per person spending more in line with other comparable provinces?

commit to a longer-term plan to balance budgets with a reduced reliance on royalty revenues?

“Trust will only come, once the business community sees government take meaningful action to improve certainty and competitiveness,” said Lalli.

The Calgary Chamber’s 2019 Provincial Election Platform: Businesses Drive Cities that Thrive can be found here.